The expansion and demand for the Falcon platform is also
likely to drive growth in the to-be-reported quarter. However, CrowdStrike is
expected to incur higher expenses due to increasing investments in the cloud
security market. These expenses are likely to weigh on the bottom line results.
In the third quarter of 2020, CrowdStrike topped market
estimates with an 88% increase in total revenues and a narrower-than-expected adjusted
loss of $0.07 per share. Subscription revenue jumped 98% to
$114 million. The company added a record 772 net new subscription customers,
taking the total number of subscriptions customers to 4,561 at the end of the third
quarter.
For the fourth quarter of 2020,
CrowdStrike has guided for revenue of $135.9
million to $138.6 million. Adjusted net loss is
expected to be in the range of $19.1 million to $17.2 million, while adjusted loss
per share is estimated to be $0.09-0.08.
For fiscal 2020, the company expects revenues of $465.2-468.0 million and an adjusted loss of $77.7-75.8 million. Full-year adjusted loss per share is expected to be between $0.53 and $0.52.
CrowdStrike’s shares have fallen 43% in the past one month. The stock was up 13% in afternoon hours on Tuesday.